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Japan's largest labor union umbrella group, Rengo, is demanding the biggest salary increase in over 30 years, with member unions seeking an average wage hike of 6.09% for this year. This demand comes as both the government and central bank are looking for signs of sustainable wage growth to drive the economy.

Prime Minister Shigeru Ishiba, Komeito head Tetsuo Saito, and Nippon Ishin leader Hirofumi Yoshimura signed an agreement on February 25th to amend the government's draft initial budget for fiscal 2025. This agreement marks the first time in 29 years that a draft initial budget will be revised through talks between the ruling and opposition parties at the Diet.

Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, has announced a change of CEO and plans to restructure its business in the face of a $47 billion foreign takeover bid. The company will buy back shares, pursue a listing of its North American subsidiary, sell its superstore unit, and reduce its ownership of Seven Bank.

The Japanese government has begun releasing its massive stockpile of rice to combat record-high prices, aiming to alleviate the burden on consumers and stabilize the market. The first batch of 12 tons was removed from storage on March 18th, with further releases and an additional auction planned in the coming weeks.

Despite billions in government subsidies and the development of industrial parks in Fukushima, most workers remain hesitant to return, leaving the region struggling to recover from the nuclear disaster. The government's continued support is crucial, but long-term solutions beyond job creation are needed to attract and retain residents.